Sealed Air (NYSE:SEE) Updates FY 2024 Earnings Guidance

Sealed Air (NYSE:SEE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.000-3.100 for the period, compared to the consensus estimate of 2.980. The company issued revenue guidance of $5.4 billion-$5.4 billion, compared to the consensus revenue estimate of $5.4 billion. Sealed Air also updated its FY24 guidance to $3.00-3.10 EPS.

Analyst Ratings Changes

SEE has been the subject of a number of recent analyst reports. UBS Group cut their target price on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley started coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective on the stock. Truist Financial dropped their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, October 17th. Finally, Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the company from $47.00 to $35.00 in a report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Trading Down 0.2 %

Shares of NYSE:SEE traded down $0.06 during midday trading on Thursday, reaching $37.04. The company’s stock had a trading volume of 297,252 shares, compared to its average volume of 1,506,265. Sealed Air has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30. The firm has a 50 day moving average price of $35.32 and a two-hundred day moving average price of $35.65. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 9.18 and a beta of 1.34.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. As a group, analysts forecast that Sealed Air will post 2.93 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is currently 32.26%.

Sealed Air Company Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.